Helpfulinvesting.com

…

During the housing “boom” a default borrower would get a short-sale approval 90% of the time as long as they qualified and the purchase amount met the lenders minimum net requirements.  Now, that number has been cut in half. Why?

Primary lenders are back-logged and desperate to NOT foreclose.  As a result, junior position lien holders, especially holders of home equity lines of credit (HELOC) are playing hard-ball.

Secondary lenders are putting on the short sale brakes and demanding excessively …

If you have one of those magic watering-hole sticks it should be pointing and shaking at commercial real estate short sale opportunites.  If not, throw it away…it just ain’t workin’.  The latest numbers for CRE mortgage delinquencies are on the rise.  According to data from the Trepp report, 30+ days delinquent commercial loans more than doubled with a rise of 89 basis points to 7.61% last month.  That is the highest monthly increase since the summer of last year.

What’s …

To survive in this market we have all added short sales to our listings. If it wasn’t for the market necessity, many agents would rather avoid them. The most common reason for avoiding them is that you may work twice as hard only to have your commission cut by the lenders. Instead of rewarding the agents for bringing in a fair market offer that will net the lender more than they would earn selling as a REO, certain lenders and …

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what is going on with SunTrust Mortgage and how long they are actually taking to close short sales these days. We go over a recent deal we have with them and some tips and tricks on how to get a short sale deal closed when you have two mortgages with the same lender. Listen in as we cover this and how often SunTrust Mortgage will order a …